Reports, Etc. Lessee will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, on or before the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 6 contracts
Sources: Lease Agreement (Northwest Airlines Corp), Lease Agreement (Northwest Airlines Holdings Corp/Pred), Lease Agreement (Northwest Airlines Inc /Mn)
Reports, Etc. Lessee The Owner will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantTrustee, on or before the Delivery Closing Date and on or before July 1 in each year thereafter during the Term commencing July, _____, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor the Indenture Trustee (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, Trustee or the Loan Participants or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's ' or the Indenture Trustee's interest Trustee who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's ' or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee The Owner will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee the Owner of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee the Owner will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 117.04. In addition, Lessee the Owner will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantTrustee, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee the Owner to such parties party on the Delivery Closing Date. In the event that Lessee the Owner or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee the Owner shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Trustee for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 5 contracts
Sources: Trust Indenture and Security Agreement (Northwest Airlines Holdings Corp/Pred), Trust Indenture and Security Agreement (Northwest Airlines Inc /Mn), Trust Indenture and Security Agreement (Northwest Airlines Corp)
Reports, Etc. Lessee will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, on or before the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____1998, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 5 contracts
Sources: Lease Agreement (Northwest Airlines Corp), Lease Agreement (Northwest Airlines Corp), Lease Agreement (Northwest Airlines Corp)
Reports, Etc. Lessee will furnish, or cause to be furnished, to Lessor, the Indenture Trustee Trustee, the Owner Participant and the Owner ParticipantNote Holders, on or before the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____annual anniversary date of Lessee's applicable insurance, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. Lessee's regular insurance broker or any other independent firm of insurance brokers reasonably acceptable to Lessor which brokers may be in the regular employ of Lessee (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached Engines and Parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereofof this Lease; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants Owner Participant or the Owner Participant Note Holders to anyone except (Ai) to prospective and permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or 's, the Indenture Trustee's or the Note Holder's interest or their respective counsel, independent certified public accountants and independent insurance brokers or other agents, who agree to hold such information confidential, (Bii) to Lessor's, the Loan Participants'Owner Participant's, the Owner ParticipantIndenture Trustee's or the Indenture TrusteeNote Holder's counsel or independent certified public accountants or accountants, independent insurance advisors brokers or other agents who agree to hold such information confidential or (Ciii) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation; provided, however that any disclosure permitted by clause (iii) above shall be made only to the extent necessary to meet the specific requirements or needs of the Persons to whom such disclosures are hereby permitted. Lessee will cause such Insurance Brokers Broker to agree to advise Lessor, the Indenture Trustee and Trustee, the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Note Holders in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coveragecoverage and with respect to the Electronic Date Recognition Exclusion Limited Coverage Endorsement), prior to the expiration cancellation or termination date material adverse change of any insurance carried and maintained on the Aircraft pursuant to this Section 11, provided that if the notice period specified above is not reasonably obtainable, the Insurance Broker shall provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, Lessee will also cause such Insurance Brokers Broker to deliver to Lessor, the Indenture Trustee Trustee, the Owner Participant and the Owner ParticipantNote Holders, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery DateDate except for such changes in the report or the coverage consistent with the terms hereof. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option option, but shall be under no duty to, provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof).
Appears in 3 contracts
Sources: Lease Agreement (Us Airways Inc), Lease Agreement (Us Airways Inc), Lease Agreement (Us Airways Inc)
Reports, Etc. Lessee Owner will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantPass Through Trustees, on or before the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____annual anniversary date of Owner's applicable insurance, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. Owner's regular insurance broker or any other independent firm of insurance brokers reasonably acceptable to Lessor the Indenture Trustee which brokers may be in the regular employ of Owner (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached engines and parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants Trustee or the Owner Participant Pass Through Trustees to anyone except (Ai) to prospective and permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's or the Pass Through Trustees' interest or their respective counsel, independent certified public accountants and independent insurance brokers or other agents, who agree to hold such information confidential, (Bii) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's or the Pass Through Trustees' counsel or independent certified public accountants or accountants, independent insurance advisors brokers or agents who agree to hold such information confidential or (Ciii) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation; provided, however that any disclosure permitted by clause (iii) above shall be made only to the extent necessary to meet the specific requirements or needs of the Persons to whom such disclosures are hereby permitted. Lessee Owner will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Pass Through Trustees in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee Owner of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree Aircraft and to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven ten (710) days in the case of war risk and risk, allied perils coveragecoverage and with respect to the Electronic Date Recognition Exclusion Limited Coverage Endorsement), prior to the expiration cancellation or termination date material adverse change of any insurance carried and maintained on pursuant this to Section 7.04, provided that if the Aircraft pursuant to this Section 11notice period specified above is not reasonably obtainable, the Insurance Broker shall provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, Lessee Owner will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantPass Through Trustees, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee Owner to such parties on the Delivery DateDate except for such changes in the report or the coverage consistent with the terms hereof. In the event that Lessee Owner or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option option, but shall be under no duty to, provide such insurance and, in such event, Lessee Owner shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Trustee for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 3 contracts
Sources: Indenture and Security Agreement (Us Airways Inc), Indenture and Security Agreement (Us Airways Inc), Owned Aircraft Indenture (Us Airways Inc)
Reports, Etc. Lessee will furnish, or cause furnish to be furnished, to Lessor, the Indenture Trustee Lessor and the Owner Participant, Participant (A) on or before prior to the Delivery Date, insurance certificates describing in reasonable detail the insurance maintained by Lessee as required pursuant to this Section 9, (B) prior to the cancellation, lapse or expiration of the insurance policies required pursuant to this Section 9, evidence of renewal of such insurance policies, and (C) on or prior to the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____renewal dates of the insurance policies carried by the Lessee pursuant to this Section 9, a report, report signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent a firm of aircraft insurance brokers brokers, not affiliated with the Lessee, appointed by the Lessee and reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect satisfactory to the Aircraft and Lessor, stating the opinion of such firm that all premiums in connection with the insurance then due have been paid and the insurance then carried and maintained with respect to on the Aircraft complies with the terms hereof and, in the case of renewal insurance, that such renewal insurance will on and after the effective date thereof so comply with the terms hereof; provided, however, PROVIDED that all information contained in such report shall be held confidential by the foregoing report Lessor and the Owner Participant, and shall not be made available furnished or disclosed by Lessorthem to anyone except their legal counsel, the Indenture Trusteeinsurance brokers or advisors, the Loan Participants or bona fide prospective transferees of the Owner Participant to anyone except and their respective agents (A) to permitted transferees PROVIDED that they shall agree for the benefit of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree Lessee to hold all such information similarly confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationApplicable Law. The Lessee will cause instruct such Insurance Brokers firm to agree give prompt written advice to advise Lessor, the Indenture Trustee Lessor and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of the Lessee of which it has knowledge and which might would in such firm's opinion invalidate or render unenforceable, in whole or in any material part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, The Lessee will also cause instruct such Insurance Brokers to agree firm to advise Lessor, the Indenture Trustee Lessor and the Owner Participant in writing at least thirty (30) 30 days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration termination or termination date of any cancellation of, or material adverse change in, such insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause 9 (or such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially lesser period as may be applicable in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereofwar risk coverage).
Appears in 2 contracts
Sources: Lease Agreement (Republic Airways Holdings Inc), Lease Agreement (Republic Airways Holdings Inc)
Reports, Etc. Lessee The Company will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantCollateral Agent, on or before the Delivery Effective Date and on or before July 1 1, in each year thereafter during the Term commencing JulyJuly 1, _____, 2002 a report, signed by Aon Risk Services, Inc., Aon Risk Services Inc. of Minnesota, Inc. ▇▇▇▇▇ & ▇▇▇▇▇▇▇▇, Incorporated or any other independent firm of insurance brokers reasonably acceptable to Lessor the Collateral Agent (the "“Insurance Brokers"”), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, provided however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant Secured Creditors to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', interest of the Owner Participant's or the Indenture Trustee's interest Secured Creditors who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel Secured Creditors’ counsels or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee The Company will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Collateral Agent in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee the Company of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee the Company will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Collateral Agent in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), ) prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 113.6. In addition, Lessee the Company will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantCollateral Agent, on or or, prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee the Company to such parties the Collateral Agent on the Delivery Effective Date. In the event that Lessee the Company or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee Collateral Agent may at its sole option provide such insurance and, in such event, Lessee the Company shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Collateral Agent for the cost thereof to Lessor or the Indenture Trustee, as the case may beCollateral Agent, without waiver of any other rights Lessor or the Indenture Trustee Collateral Agent may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 2 contracts
Sources: Aircraft Mortgage and Security Agreement (Northwest Airlines Corp), Aircraft Mortgage and Security Agreement (Northwest Airlines Corp)
Reports, Etc. Lessee Owner will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantPass Through Trustee, on or before the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____annual anniversary date of Owner's applicable insurance, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. Owner's regular insurance broker or any other independent firm of insurance brokers reasonably acceptable to Lessor the Indenture Trustee which brokers may be in the regular employ of Owner (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached engines and parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants Trustee or the Owner Participant Pass Through Trustee to anyone except (Ai) to prospective and permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's or the Pass Through Trustee's interest or their respective counsel, independent certified public accountants and independent insurance brokers or other agents, who agree to hold such information confidential, (Bii) to Lessor's, the Loan Participants', the Owner ParticipantIndenture Trustee's or the Indenture Pass Through Trustee's counsel or independent certified public accountants or accountants, independent insurance advisors brokers or agents who agree to hold such information confidential or (Ciii) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation; provided, however that any disclosure permitted by clause (iii) above shall be made only to the extent necessary to meet the specific requirements or needs of the Persons to whom such disclosures are hereby permitted. Lessee Owner will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Pass Through Trustee in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee Owner of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree Aircraft and to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven ten (710) days in the case of war risk and risk, allied perils coveragecoverage and with respect to the Electronic Date Recognition Exclusion Limited Coverage Endorsement), prior to the expiration cancellation or termination date material adverse change of any insurance carried and maintained on the Aircraft pursuant to this Section 117.04, provided that if the notice period specified above is not reasonably obtainable, the Insurance Broker shall provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, Lessee Owner will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantPass Through Trustee, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee Owner to such parties on the Delivery DateDate except for such changes in the report or the coverage consistent with the terms hereof. In the event that Lessee Owner or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option option, but shall be under no duty to, provide such insurance and, in such event, Lessee Owner shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Trustee for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 2 contracts
Sources: Owned Aircraft Indenture (Us Airways Inc), Indenture and Security Agreement (Us Airways Inc)
Reports, Etc. Lessee The Owner will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantTrustee, on or before the Delivery Closing Date and on or before July 1 in each year thereafter during the Term commencing July, _____, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor the Indenture Trustee (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, Trustee or the Loan Participants or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's ' or the Indenture Trustee's interest Trustee who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's ' or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee The Owner will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee the Owner of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee the Owner will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 117.04. In addition, Lessee the Owner will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantTrustee, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee the Owner to such parties party on the Delivery Closing Date. In the event that Lessee the Owner or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee the Owner shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Trustee for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 2 contracts
Sources: Trust Indenture and Security Agreement (Northwest Airlines Inc /Mn), Trust Indenture and Security Agreement (Northwest Airlines Inc /Mn)
Reports, Etc. Lessee will furnish, or cause furnish to be furnished, to Lessor, the Indenture Trustee Lessor and the Owner Participant, Participant (A) on or before prior to the Delivery Date, insurance certificates describing in reasonable detail the insurance maintained by Lessee as required pursuant to this Section 9, (B) prior to the cancellation, lapse or expiration of the insurance policies required pursuant to this Section 9, evidence of renewal of such insurance policies, and (C) on or prior to the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____renewal dates of the insurance policies carried by the Lessee pursuant to this Section 9, a report, report signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent a firm of aircraft insurance brokers brokers, not affiliated with the Lessee, appointed by the Lessee and reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect satisfactory to the Aircraft and Lessor, stating the opinion of such firm that all premiums in connection with the insurance then due have been paid and the insurance then carried and maintained with respect to on the Aircraft complies with the terms hereof and, in the case of renewal insurance, that such renewal insurance will on and after the effective date thereof so comply with the terms hereof; provided, however, PROVIDED that all information contained in such report shall be held confidential by the foregoing report Lessor and the Owner Participant, and shall not be made available furnished or disclosed by Lessorthem to anyone except their legal counsel, the Indenture Trusteeinsurance brokers or advisors, the Loan Participants or bona fide prospective transferees of the Owner Participant to anyone except and their respective agents (A) to permitted transferees PROVIDED that they shall agree for the benefit of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree Lessee to hold all such information similarly confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationApplicable Law. The Lessee will cause instruct such Insurance Brokers firm to agree give prompt written advice to advise Lessor, the Indenture Trustee Lessor and the Owner Participant in writing (X) if such firm ceases to be the insurance broker to Lessee, (Y) of any default in the payment of any premium and (Z) of any other act or omission on the part of the Lessee of which it has knowledge and which might would in such firm's opinion invalidate or render unenforceable, in whole or in any material part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, The Lessee will also cause instruct such Insurance Brokers to agree firm to advise Lessor, the Indenture Trustee Lessor and the Owner Participant in writing at least thirty (30) 30 days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration termination or termination date of any cancellation of, or material adverse change in, such insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause 9 (or such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially lesser period as may be applicable in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereofwar risk coverage).
Appears in 2 contracts
Sources: Lease Agreement (Republic Airways Holdings Inc), Lease Agreement (Republic Airways Holdings Inc)
Reports, Etc. (a) Lessee will furnish, or cause furnish to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, Lessor (i) on or before prior to the Delivery Date, insurance certificates describing in reasonable detail the insurance maintained by Lessee as required pursuant to this Article XI, (ii) prior to the cancellation, lapse or expiration of the insurance policies required pursuant to this Article XI, evidence of renewal of such insurance policies, and (iii) on or prior to the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____renewal dates of the insurance policies carried by the Lessee pursuant to this Article XI, a report, report signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent a firm of aircraft insurance brokers brokers, not affiliated with the Lessee, appointed by the Lessee and reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect satisfactory to the Aircraft and Lessor, stating the opinion of such firm that all premiums in connection with the insurance then due have been paid and the insurance then carried and maintained with respect to on the Aircraft complies with the terms hereof and, in the case of renewal insurance, that such renewal insurance will on and after the effective date thereof so comply with the terms hereof; provided, however, PROVIDED that all information contained in such report shall be held confidential by the foregoing report Lessor and 37 Beneficiary and shall not be made available furnished or disclosed by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant them to anyone except (A) to permitted their legal counsel, insurance brokers or advisors, bona fide prospective transferees of Lessor's, the Loan Participants', Lessor and Beneficiary and their respective agents (PROVIDED that they shall agree for the Owner Participant's or benefit of the Indenture Trustee's interest who agree Lessee to hold all such information similarly confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationapplicable Law. The Lessee will cause instruct such Insurance Brokers firm to agree give prompt written advice to advise Lessor, the Indenture Trustee and the Owner Participant in writing Lessor of any default in the payment of any premium and of any other act or omission on the part of the Lessee of which it has knowledge and which might would in such firm's opinion invalidate or render unenforceable, in whole or in any material part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, The Lessee will also cause instruct such Insurance Brokers to agree firm to advise Lessor, the Indenture Trustee and the Owner Participant Lessor in writing at least thirty (30) 30 days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration termination or termination date of any cancellation of, or material adverse change in, such insurance carried and maintained on the Aircraft pursuant to this Article XI (or such lesser period as may be applicable in the case of war risk coverage).
(b) Lessee shall use reasonable efforts to notify Lessor promptly of any event (other than an event constituting an Event of Loss, notice of which shall be governed by Section 11. In addition12.01(a) or (b), as applicable) with respect to the Aircraft, the Airframe, any Engine or any Part thereof that will or may give rise to a claim under any hull risk insurance policy in excess of $750,000, PROVIDED that receipt by Lessor of any payments pursuant to Section 11.05(a) shall be deemed to constitute notice of such event, subject to Lessee providing such additional information regarding such event as Lessor shall request after receipt of such payment.
(c) If at any time and from time to time, Lessor shall identify a Financing Party to Lessee, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained delivered new insurance as herein provided, Lessor or certificates and broker's undertakings to ensure that each such Financing Party is afforded the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of coverage required under this Lease, including the provisions of Section 14(g) hereof.
Appears in 2 contracts
Sources: Aircraft Lease Agreement (Republic Airways Holdings Inc), Aircraft Lease Agreement (Republic Airways Holdings Inc)
Reports, Etc. Lessee Sublessee will furnish, or cause to be furnished, to Sublessor, Head Lessor, the Indenture Trustee and the Owner Participant, on or before the Delivery Date for an Item of Equipment and on or before July 1 in each year thereafter during the Term commencing Julyannual anniversary date of Sublessee’s applicable insurance, _____, a reportan undertaking, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. Sublessee’s regular insurance broker or any other independent firm of insurance brokers reasonably acceptable to Lessor Sublessor which brokers may be in the regular employ of Sublessee (the "“Insurance Brokers"”), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached Engines, Propellers, Spare Engines and Parts) then carried and maintained with respect to the Aircraft such Item of Equipment and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereofof this Sublease; provided, however, that all information contained in the foregoing report undertaking shall not be made available by Lessor, subject to the Indenture Trustee, terms and conditions of Section 12(i) of the Loan Participants or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationAdditional Agreement. Lessee Sublessee will cause such Insurance Brokers Broker to agree to advise Sublessor, Head Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war war-risk and allied perils coverage), prior to the expiration cancellation or termination date material adverse change of any insurance carried and maintained on the Aircraft pursuant to this Section 1110; provided that if the notice period specified above is not reasonably obtainable, the Insurance Broker shall provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, Lessee Sublessee will also cause such Insurance Brokers Broker to deliver to Head Lessor, Sublessor, the Indenture Trustee and the Owner Participant, Participant on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee Sublessee to such parties on the relevant Delivery DateDate except for such changes in the report or the coverage consistent with the terms hereof. In the event that Lessee Sublessee or any Permitted Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee Sublessor may at its sole option option, but shall be under no duty to, provide such insurance and, in such event, Lessee Sublessee shall, upon demand, reimburse Lessor or the Indenture Trustee, Sublessor as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may haveSublessor; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, Sublessor of said option shall affect the provisions of this LeaseSublease, including the provisions of Section 14(g) hereof13(g).
Appears in 1 contract
Sources: Master Sublease Agreement (Republic Airways Holdings Inc)
Reports, Etc. Lessee Borrower will furnish, or cause furnish to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, Lender (A) on or before the Delivery Date and on or before July 1 in ------------ prior each year thereafter during the Term commencing JulyFunding Date, _____, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor (the "Insurance Brokers"), certificates describing in reasonable detail the insurance and reinsurance then carried and maintained with respect by Borrower as required pursuant to this Section 4.05, (B) prior to the Aircraft cancellation, lapse or expiration of the insurance policies required pursuant to this Section 4.05, evidence of renewal of such insurance policies, and (C) on or prior to each Funding Date and on or before the renewal dates of the insurance policies carried by the Borrower pursuant to this Section 4.05, a report signed by a firm of aircraft insurance brokers, not affiliated with the Borrower, appointed by the Borrower and reasonably satisfactory to the Lender, stating the opinion of such firm that all premiums in connection with the insurance then due have been paid and the insurance then carried and maintained with respect to on the Aircraft Engines complies with the terms hereof and, in the case of renewal insurance, that such renewal insurance will on and after the effective date thereof so comply with the terms hereof; provided, however, provided that all information -------- contained in such report shall be held confidential by the foregoing report Lender, and shall not be made available furnished or disclosed by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant it to anyone except (A) to permitted its legal counsel, insurance brokers or advisors, bona fide prospective transferees of Lessor's, the Loan Participants', Lender and their respective agents (provided that they shall agree for the Owner Participant's or benefit of the Indenture Trustee's interest who agree -------- Borrower to hold all such information similarly confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationApplicable Law. Lessee The Borrower will cause instruct such Insurance Brokers firm to agree give prompt written advice to advise Lessor, the Indenture Trustee and the Owner Participant in writing Lender of any default in the payment of any premium and of any other act or omission on the part of Lessee the Borrower of which it has knowledge and which might would in such firm's opinion invalidate or render unenforceable, in whole or in any material part, any insurance on the AircraftEngines. To the extent such agreement is reasonably obtainable, Lessee The Borrower will also cause instruct such Insurance Brokers to agree firm to advise Lessor, the Indenture Trustee and the Owner Participant Lender in writing at least thirty 30 days prior to the termination or cancellation of, or material adverse change in, such insurance carried and maintained on the Engines pursuant to this Section 4.05 (30) days (seven (7) days or such lesser period as may be applicable in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Reports, Etc. Lessee The Owner will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantTrustee, on or before the Delivery Closing Date and on or before July 1 in each year thereafter during the Term commencing July, _____, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor the Indenture Trustee (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, Trustee or the Loan Participants or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's ' or the Indenture Trustee's interest Trustee who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's ' or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee The Owner will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee the Owner of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee the Owner will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 117.04. In addition, Lessee the Owner will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantTrustee, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee the Owner to such parties party on the Delivery Closing Date. In the event that Lessee the Owner or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee the Owner shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Trustee for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Sources: Trust Indenture and Security Agreement (Northwest Airlines Inc /Mn)
Reports, Etc. Lessee will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, on or before the Delivery Date Date, and on or before July 1 in each year thereafter annual renewal of the applicable insurances during the Term commencing July, _____Term, a report, signed by Aon Risk Services, Inc., Aon AON Risk Services of MinnesotaIllinois, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor which brokers may be in the regular employ of Lessee (the "Insurance BrokersBroker"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached engines and parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the (a) such insurance then carried and maintained with respect to the Aircraft complies with the terms hereofhereof and (b) that such insurance together with any self-insurance permitted hereby provides coverage that are in substantially similar forms, are of such types and have limits within the range of limits as are customarily carried by U.S. carriers; provided, however, that the opinion set forth in clause (b) shall not be required if the Insurance Broker then generally does not provide such an opinion or will provide such an opinion for material additional cost; and provided further that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants Trustee or the Owner Participant to anyone except (A) to prospective and permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest or their respective counsel, independent certified public accountants, independent insurance brokers or other agents, who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or accountants, independent insurance advisors brokers or other agents who agree to hold such information confidential or confidential, (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation, or (D) as may be necessary for purposes of protecting the interest of any such Person or for enforcement of this Lease by Lessor or the Indenture Trustee; provided, however, that any and all disclosures permitted by clauses (C) or (D) above shall be made only to the extent necessary to meet the specific requirements or needs of the Persons to whom such disclosures are hereby permitted. Lessee will cause such Insurance Brokers Broker to agree to advise Lessor, the Indenture Trustee and the Owner Participant Participant, in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree Aircraft and to advise Lessor, the Indenture Trustee and the Owner Participant such Persons in writing at least thirty (30) 30 days (seven (7) 7 days in the case of war risk and allied perils coverage), ) prior to the expiration cancellation or termination date material adverse change of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, provided that if the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.notice
Appears in 1 contract
Reports, Etc. Lessee Borrower will furnish, or cause to be furnished, to Lessor, the Indenture Security Trustee and the Owner Participant, Lender on or before the Delivery Closing Date and during each calendar year thereafter on or before July 1 in each year thereafter during the Term commencing July, _____, anniversary of the Closing Date a reportcertificate of insurance and broker’s letter of undertaking, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other an independent firm of insurance brokers reasonably acceptable to Lessor Security Trustee (the "“Insurance Brokers"”), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached Engines and Parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the such insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, hereof and that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationpremiums have been paid. Lessee Borrower will cause such Insurance Brokers to agree to advise Lessor, the Indenture promptly Security Trustee and the Owner Participant Lender in writing if the Insurance Brokers cease to be the insurance brokers to Borrower, or of the occurrence of any default in the payment of any premium and of any other act or omission on the part of Lessee Borrower of which it has actual knowledge and which that might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To Aircraft as required by the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree terms hereof and to advise Lessor, the Indenture Trustee and the Owner Participant such Persons in writing at least thirty (30) 30 days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration cancellation (but not scheduled expiration) or termination date material change or lapse of any insurance carried and required to be maintained on the Aircraft pursuant to this Section 114.01(e). In addition, Lessee Borrower will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantSecurity Trustee, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee Borrower to such parties on the Delivery DateClosing Date except for changes in the report or the coverage consistent with the terms hereof. In the event that Lessee or any Sublessee shall fail If Borrower fails to maintain or cause to be maintained insurance as herein provided, Lessor Security Trustee or the Indenture Trustee any Note Holder may at its sole option option, but without any obligation to do so, provide such insurance and, in such event, Lessee Borrower shall, upon demand, reimburse Lessor or the Indenture Security Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Security Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, Security Trustee of said option shall affect the provisions of this LeaseMortgage, including the provisions that failure by Borrower to maintain insurance prescribed hereunder shall constitute an Event of Section 14(g) hereofDefault.
Appears in 1 contract
Sources: Aircraft Mortgage and Security Agreement (Skywest Inc)
Reports, Etc. Lessee will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, on or before the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____1998, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor (the "Insurance BrokersINSURANCE BROKERS"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; providedPROVIDED, howeverHOWEVER, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; providedPROVIDED, howeverHOWEVER, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Reports, Etc. Lessee will furnish, cause its insurance broker to furnish Lessor and each Additional Insured or cause to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, Loss Payee (i) on or before the Delivery Date of the Aircraft, (ii) on the policy anniversary date thereafter, and (iii) on the date a Replacement Engine or before July 1 in each year thereafter during the Term commencing July, _____Replacement Propeller is conveyed to Lessor pursuant to SECTION 12.4, a report, dated the day of its delivery, signed by Aon Risk ServicesLessee's insurance broker, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor (the "Insurance Brokers")Lessor, describing in reasonable detail the insurance and reinsurance then carried and maintained on the Aircraft, certifying that such insurance complies with respect to the Aircraft terms hereof and that the terms of this SECTION 13 have been endorsed on such policies, and stating the opinion of such firm broker that such insurance is in an amount deemed adequate, based upon normal industry practice, for the insurance then carried protection of the respective interests of Lessor and maintained with respect to the Aircraft complies each Additional Insured or Loss Payee and each Covered Person, and is usual for corporations operating similar aircraft and similarly situated with the terms hereof; providedLessee, howeverPROVIDED, that all information contained in the foregoing report HOWEVER, such opinion shall not be made available by Lessor, the Indenture Trustee, the Loan Participants deemed to be a guarantee or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree to hold other undertaking that such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may limits will be required by any statute, court or administrative order or decree or governmental ruling or regulationadequate under all circumstances. Lessee will advise and will cause such Insurance Brokers to agree its insurance broker to advise Lessor, the Indenture Trustee Lessor and the Owner Participant each Additional Insured or Loss Payee in writing promptly of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To Aircraft Lessee shall cause its insurance broker to furnish to Lessor and each Additional Insured or Loss Payee on the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least Delivery Date or as soon as available thereafter but not later than thirty (30) days (seven (7) days in after the case of war risk and allied perils coverage)Delivery Date, prior to the expiration or termination date copies of any insurance certificates required to be carried hereunder, and maintained on within fifteen (15) days of replacement thereof, copies, (pound) such replacement insurance certificates, or with respect to any Replacement Engine or Replacement Propeller, within fifteen (15) days of replacement thereof, certificates evidencing the Aircraft pursuant insurance required to this Section 11be carried hereunder. In additionIf Lessee fails to maintain insurance as provided herein, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain Additional Insured or cause to be maintained insurance as herein providedLoss Payee may, Lessor or the Indenture Trustee may at its sole option option, provide such insurance and, and in such event, Lessee shall, upon demand, reimburse Lessor or such Additional Insured or Loss Payee, as the Indenture Trusteecase may be, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereofthereof.
Appears in 1 contract
Sources: Aircraft Lease Agreement (Republic Airways Holdings Inc)
Reports, Etc. Lessee will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and Trustee, the Owner Participant and, so long as the Original Loan Participant shall hold any Certificate, the Original Loan Participant, on or before the Delivery Date, and each annual anniversary of the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____Term, a report, signed by Aon Risk ServicesRoll▇▇▇, Inc., Aon Risk Services of Minnesota▇▇di▇ ▇▇▇l ▇▇ Illinois, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor which brokers may be in the regular employ of Lessee (the "Insurance BrokersBroker"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached engines and parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the (a) such insurance then carried and maintained with respect to the Aircraft complies with the terms hereofhereof and (b) that such insurance together with any self-insurance permitted hereby provides coverage that are in substantially similar forms, are of such types and have limits within the range of limits as are customarily carried by U.S. carriers; provided, however, that the opinion set forth in clause (b) shall not be required if the Insurance Broker then generally does not provide such an opinion or will provide such an opinion for material additional cost; and provided further that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Original Loan Participants Participant, or the Owner Participant to anyone except (A) to prospective and permitted transferees of Lessor's, the Loan Participants'Owner Participant's, the Owner Original Loan Participant's or the Indenture Trustee's interest or their respective counsel, independent certified public accountants, independent insurance brokers or other agents, who agree to hold such information confidential, (B) to Lessor's, the Loan Participants'Owner Participant's, the Owner Original Loan Participant's or the Indenture Trustee's counsel or independent certified public accountants or accountants, independent insurance advisors brokers or other agents who agree to hold such information confidential or confidential, (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation, or (D) as may be necessary for purposes of protecting the interest of any such Person or for enforcement of this Lease by Lessor or the Indenture Trustee; provided, however, that any and all disclosures permitted by clauses (C) or (D) above shall be made only to the extent necessary to meet the specific requirements or needs of the Persons to whom such disclosures are hereby permitted. Lessee will cause such Insurance Brokers Broker to agree to advise Lessor, the Indenture Trustee and Trustee, the Owner Participant, and, so long as the Original Loan Participant holds any Certificate, the Original Loan Participant, in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree Aircraft and to advise Lessor, the Indenture Trustee and the Owner Participant such Persons in writing at least thirty (30) 30 days (seven (7) 7 days in the case of war risk and allied perils coverage), ) prior to the expiration cancellation or termination date material adverse change of any insurance carried and maintained on the Aircraft pursuant to this Section 11, provided that if the notice period specified above is not reasonably obtainable, the Insurance Broker shall provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, Lessee will also cause such Insurance Brokers Broker to deliver to Lessor, the Indenture Trustee and Trustee, the Owner Participant and, so long as the Original Loan Participant holds any Certificate, the Original Loan Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.delivered
Appears in 1 contract
Reports, Etc. Lessee will furnish, cause its insurance broker to furnish Lessor and each Additional Insured or cause to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, Loss Payee (i) on or before the Delivery Date of the Aircraft, (ii) on the policy anniversary date thereafter, and (iii) on the date a Replacement Engine or before July 1 in each year thereafter during the Term commencing July, _____Replacement Propeller is conveyed to Lessor pursuant to SECTION 12.4, a report, dated the day of its delivery, signed by Aon Risk ServicesLessee's insurance broker, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor (the "Insurance Brokers")Lessor, describing in reasonable detail the insurance and reinsurance then carried and maintained on the Aircraft, certifying that such insurance complies with respect to the Aircraft terms hereof and that the terms of this SECTION 13 have been endorsed on such policies, and stating the opinion of such firm broker that such insurance is in an amount deemed adequate, based upon normal industry practice, for the insurance then carried protection of the respective interests of Lessor and maintained with respect to the Aircraft complies each Additional Insured or Loss Payee and each Covered Person, and is usual for corporations operating similar aircraft and similarly situated with the terms hereof; providedLessee, howeverPROVIDED, that all information contained in the foregoing report HOWEVER, such opinion shall not be made available by Lessor, the Indenture Trustee, the Loan Participants deemed to be a guarantee or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree to hold other undertaking that such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may limits will be required by any statute, court or administrative order or decree or governmental ruling or regulationadequate under all circumstances. Lessee will advise and will cause such Insurance Brokers to agree its insurance broker to advise Lessor, the Indenture Trustee Lessor and the Owner Participant each Additional Insured or Loss Payee in writing promptly of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To Lessee shall cause its insurance broker to furnish to Lessor and each Additional Insured or Loss Payee on the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least Delivery Date or as soon as available thereafter but not later than thirty (30) days (seven (7) days in after the case of war risk and allied perils coverage)Delivery Date, prior to the expiration or termination date copies of any insurance certificates required to be carried hereunder, and maintained on within fifteen (15) days of replacement thereof, copies of such replacement insurance certificates, or with respect to any Replacement Engine or Replacement Propeller, within fifteen (15) days of replacement thereof, certificates evidencing the Aircraft pursuant insurance required to this Section 11be carried hereunder. In additionIf Lessee fails to maintain insurance as provided herein, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain Additional Insured or cause to be maintained insurance as herein providedLoss Payee may, Lessor or the Indenture Trustee may at its sole option option, provide such insurance and, and in such event, Lessee shall, upon demand, reimburse Lessor or such Additional Insured or Loss Payee, as the Indenture Trusteecase may be, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereofthereof.
Appears in 1 contract
Sources: Aircraft Lease Agreement (Republic Airways Holdings Inc)
Reports, Etc. Lessee The Company will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantCollateral Agent, on or before the Delivery Date date of the Loan and on or before July 1 1, in each year thereafter during the Term commencing JulyJuly 1, _____, 2004 a report, signed by Aon Risk Services, Inc., Aon Risk Services Inc. of Minnesota, Inc. ▇▇▇▇▇ & ▇▇▇▇▇▇▇▇, Incorporated or any other independent firm of insurance brokers reasonably acceptable to Lessor the Collateral Agent (the "“Insurance Brokers"”), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that (i) in the case of war risk and hijacking insurance acquired by the Company from the FAA or other instrumentality of the government of the United States, no opinion concerning such coverage need be given and (ii) all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants Collateral Agent or the Owner Participant Noteholders to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', interest of the Owner Participant's Collateral Agent or the Indenture Trustee's interest Noteholders who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's Collateral Agent’s or the Indenture Trustee's Noteholder’s counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee The Company will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Collateral Agent in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee the Company of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any commercial insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee the Company will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Collateral Agent in writing at least thirty (30) days (seven (7) days in the case of commercial war risk and allied perils coverage), ) prior to the expiration or termination date of any commercial insurance carried and maintained on the Aircraft pursuant to this Section 113.6. In addition, Lessee the Company will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantCollateral Agent, on or prior to the date of expiration of any commercial insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee the Company to such parties the Collateral Agent on the Delivery Datedate of the Loan. In the event that Lessee the Company or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee Collateral Agent may at its sole option provide such insurance and, in such event, Lessee the Company shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Collateral Agent for the cost thereof to Lessor or the Indenture Trustee, as the case may beCollateral Agent, without waiver of any other rights Lessor or the Indenture Trustee Collateral Agent may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Sources: Mortgage and Security Agreement (Northwest Airlines Corp)
Reports, Etc. Lessee The Owner will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantTrustee, on or before the Delivery Closing Date and on or before July 1 in each year thereafter during the Term commencing July, _____, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor the Indenture Trustee (the "Insurance BrokersINSURANCE BROKERS"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; providedPROVIDED, howeverHOWEVER, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, Trustee or the Loan Participants or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's ' or the Indenture Trustee's interest Trustee who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's ' or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee The Owner will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee the Owner of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee the Owner will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 117.04. In addition, Lessee the Owner will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantTrustee, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee the Owner to such parties party on the Delivery Closing Date. In the event that Lessee the Owner or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee the Owner shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Trustee for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Sources: Trust Indenture and Security Agreement (Northwest Airlines Corp)
Reports, Etc. The Lessee will furnish, or cause during the Term furnish to be furnished, to Lessor, the Lessor and the Indenture Trustee and evidence of renewal of the Owner Participantinsurance policies required pursuant to this Section 9 prior to the cancellation, lapse or expiration of such insurance policies and, on or before the Delivery Date and on or before July 1 in each year thereafter during renewal dates of the Term commencing July, _____insurance policies carried by the Lessee pursuant to this Section 9, a report, report signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent a firm of aircraft insurance brokers brokers, not affiliated with the Lessee, appointed by the Lessee and reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect satisfactory to the Aircraft and Lessor, stating the opinion of such firm that the insurance then carried and maintained with respect to on the Aircraft complies with the terms hereof and that such renewal insurance will on and after the effective date thereof so comply with the terms hereof; provided, however, provided that all information contained in the foregoing such report shall not be made available held confidential by Lessor, the Lessor and the Indenture Trustee, the Loan Participants and shall not be furnished or disclosed by them to anyone except the Owner Participant to anyone except (A) to permitted and bona fide prospective transferees of Lessor's, the Loan Participants', the Owner Participant's or Participant and their respective agents (provided that they shall agree for the Indenture Trustee's interest who agree benefit of the Lessee to hold all such information similarly confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationApplicable Law. The Lessee will cause instruct such Insurance Brokers firm to agree give prompt written advice to advise Lessor, the Lessor and the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of the Lessee of which it has knowledge and which might would in such firm's opinion invalidate or render unenforceable, in whole or in any material part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, The Lessee will also cause instruct such Insurance Brokers to agree firm to advise Lessor, the Lessor and the Indenture Trustee and the Owner Participant in writing at least thirty (30) 30 days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration termination or termination date of any cancellation of, or material adverse change in, such insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof9.
Appears in 1 contract
Reports, Etc. Lessee The Company will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantCollateral Agent, on or before the Delivery Effective Date and on or before July 1 1, in each year thereafter during the Term commencing JulyJuly 1, _____, 1999 a report, signed by Aon Risk Services, Inc., Aon Risk Services Inc. of Minnesota, Inc. ▇▇▇▇▇ & ▇▇▇▇▇▇▇▇, Incorporated or any other independent firm of insurance brokers reasonably acceptable to Lessor the Collateral Agent (the "Insurance BrokersINSURANCE BROKERS"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; providedPROVIDED, howeverHOWEVER, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant Secured Creditors to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', interest of the Owner Participant's or the Indenture Trustee's interest Secured Creditors who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel Secured Creditors' counsels or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee The Company will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Collateral Agent in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee the Company of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee the Company will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Collateral Agent in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), ) prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 113.6. In addition, Lessee the Company will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantCollateral Agent, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee the Company to such parties the Collateral Agent on the Delivery Effective Date. In the event that Lessee the Company or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee Collateral Agent may at its sole option provide such insurance and, in such event, Lessee the Company shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Collateral Agent for the cost thereof to Lessor or the Indenture Trustee, as the case may beCollateral Agent, without waiver of any other rights Lessor or the Indenture Trustee Collateral Agent may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Sources: Aircraft Mortgage and Security Agreement (Northwest Airlines Corp)
Reports, Etc. The Lessee will furnish, or cause during the Term furnish to be furnished, to Lessor, the Lessor and the Indenture Trustee and evidence of renewal of the Owner Participantinsurance policies required pursuant to this Section 9 prior to the cancellation, lapse or expiration of such insurance policies and, on or before the Delivery Date and on or before July 1 in each year thereafter during renewal dates of the Term commencing July, _____insurance policies carried by the Lessee pursuant to this Section 9, a report, report signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent a firm of aircraft insurance brokers brokers, not affiliated with the Lessee, appointed by the Lessee and reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect satisfactory to the Aircraft and Lessor, stating the opinion of such firm that the insurance then carried and maintained with respect to on the Aircraft complies with the terms hereof and that such renewal insurance will on and after the effective date thereof so comply with the terms hereof; provided, however, provided that all -------- information contained in the foregoing such report shall not be made available held confidential by Lessor, the Lessor and the Indenture Trustee, the Loan Participants and shall not be furnished or disclosed by them to anyone except the Owner Participant to anyone except (A) to permitted and bona fide prospective transferees of Lessor's, the Loan Participants', the Owner Participant's or Participant and their respective agents (provided that they shall agree -------- for the Indenture Trustee's interest who agree benefit of the Lessee to hold all such information similarly confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationApplicable Law. The Lessee will cause instruct such Insurance Brokers firm to agree give prompt written advice to advise Lessor, the Lessor and the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of the Lessee of which it has knowledge and which might would in such firm's opinion invalidate or render unenforceable, in whole or in any material part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, The Lessee will also cause instruct such Insurance Brokers to agree firm to advise Lessor, the Lessor and the Indenture Trustee and the Owner Participant in writing at least thirty (30) 30 days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration termination or termination date of any cancellation of, or material adverse change in, such insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof9.
Appears in 1 contract
Reports, Etc. Lessee Owner will furnish, or cause to be furnished, to Lessor, ------------ the Indenture Trustee and the Owner Participant, on or before the Delivery Date Closing Date, and on or before July 1 in each year thereafter during annual renewal of the Term commencing July, _____applicable insurances, a report, signed by Aon Risk Services, Inc., Aon AON Risk Services of MinnesotaIllinois, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor the Indenture Trustee which brokers may be in the regular employ of Owner (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached engines and parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the such insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, provided that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant Trustee to anyone except (A) to any Noteholder's or to prospective and permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's or any Noteholder's interest or its respective counsel, independent certified public accountants, independent insurance brokers or other agents, who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or accountants, independent insurance advisors brokers or other agents who agree to hold such information confidential or confidential, (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation, or (D) as may be necessary for purposes of protecting the interest of any such Person or for enforcement of this Agreement by the Indenture Trustee; provided, further, that any and all disclosures permitted by clauses (C) or (D) above shall be made only to the extent necessary to meet the specific requirements or needs of the Persons to whom such disclosures are hereby permitted. Lessee Owner will cause such Insurance Brokers Broker to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee Owner of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree Aircraft and to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) 30 days (seven (7) 7 days in the case of war risk and allied perils coverage), ) prior to the expiration cancellation or termination date material adverse change of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor4.03; provided that if the notice period specified above is not reasonably obtainable, the Insurance Broker shall provide for as long a period of prior notice as shall then be reasonably [Trust Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.Mortgage ([_________])]
Appears in 1 contract
Sources: Trust Indenture and Mortgage (United Air Lines Inc)
Reports, Etc. Lessee The Owner will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantTrustee, on or before the Delivery Closing Date and on or before July 1 in each year thereafter during the Term commencing July, _____[ ], a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor the Indenture Trustee (the "“Insurance Brokers"”), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant Trustee to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest Trustee who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's ’s counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee The Owner will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee the Owner of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee the Owner will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 117.04. In addition, Lessee the Owner will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantTrustee, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee the Owner to such parties party on the Delivery Closing Date. In the event that Lessee the Owner or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee the Owner shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Trustee for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Sources: Trust Indenture and Security Agreement (Northwest Airlines Corp)
Reports, Etc. Lessee will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, on or before the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor (the "Insurance BrokersINSURANCE BROKERS"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; providedPROVIDED, howeverHOWEVER, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be -41- required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; providedPROVIDED, howeverHOWEVER, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Reports, Etc. Lessee The Company will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantCollateral Agent, on or before the Delivery Effective Date and on or before July 1 1, in each year thereafter during the Term commencing JulyJuly 1, _____, 2002 a report, signed by Aon Risk Services, Inc., Aon Risk Services Inc. of Minnesota, Inc. ▇▇▇▇▇ & ▇▇▇▇▇▇▇▇, Incorporated or any other independent firm of insurance brokers reasonably acceptable to Lessor the Collateral Agent (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, provided however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant Secured Creditors to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', interest of the Owner Participant's or the Indenture Trustee's interest Secured Creditors who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel Secured Creditors' counsels or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee The Company will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Collateral Agent in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee the Company of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee the Company will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Collateral Agent in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), ) prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 113.6. In addition, Lessee the Company will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantCollateral Agent, on or or, prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee the Company to such parties the Collateral Agent on the Delivery Effective Date. In the event that Lessee the Company or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee Collateral Agent may at its sole option provide such insurance and, in such event, Lessee the Company shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Collateral Agent for the cost thereof to Lessor or the Indenture Trustee, as the case may beCollateral Agent, without waiver of any other rights Lessor or the Indenture Trustee Collateral Agent may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Sources: Credit and Guarantee Agreement (Northwest Airlines Corp)
Reports, Etc. Lessee will furnish, or cause to be furnished, to Lessor, the Indenture Trustee Trustee, the Owner Participant and the Owner ParticipantPass Through Trustee, on or before the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____annual anniversary date of Lessee's applicable insurance, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. Lessee's regular insurance broker or any other independent firm of insurance brokers reasonably acceptable to Lessor which brokers may be in the regular employ of Lessee (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached engines and parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants Trustee or the Owner Participant or the Pass Through Trustee to anyone except (Ai) to prospective and permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or 's, the Indenture Trustee's or the Pass Through Trustee's interest or their respective counsel, independent certified public accountants and independent insurance brokers or other agents, who agree to hold such information confidential, (Bii) to Lessor's, the Loan Participants'Owner Participant's, the Owner ParticipantIndenture Trustee's or the Indenture a Pass Through Trustee's counsel or independent certified public accountants or accountants, independent insurance advisors brokers or agents who agree to hold such information confidential or (Ciii) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation; provided, however that any disclosure permitted by clause (iii) above shall be made only to the extent necessary to meet the specific requirements or needs of the Persons to whom such disclosures are hereby permitted. Lessee will cause such Insurance Brokers Broker to agree to advise Lessor, the Indenture Trustee and Trustee, the Owner Participant and the Pass Through Trustee in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree Aircraft and to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage)) and ten (10) days notice with respect to the Electronic Date Recognition Exclusion Limited Coverage Endorsement, prior to the expiration cancellation or termination date material adverse change of any insurance carried and maintained on the Aircraft pursuant to this Section 11, provided that if the notice period specified above is not reasonably obtainable, the Insurance Broker shall provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee Trustee, the Owner Participant and the Owner ParticipantPass Through Trustee, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery DateDate except for such changes in the report or the coverage consistent with the terms hereof. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option option, but shall be under no duty to, provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof).
Appears in 1 contract
Sources: Lease Agreement (Us Airways Inc)
Reports, Etc. Lessee will furnish, or cause furnish to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, Lessor (A) on or before prior to the Delivery Date, insurance certificates describing in reasonable detail the insurance maintained by Lessee as required pursuant to this Section 9, (B) prior to the cancellation, lapse or expiration of the insurance policies required pursuant to this Section 9, evidence of renewal of such insurance policies, and (C) on or prior to the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____renewal dates of the insurance policies carried by the Lessee pursuant to this Section 9, a report, report signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent a firm of aircraft insurance brokers brokers, not affiliated with the Lessee, appointed by the Lessee and reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect satisfactory to the Aircraft and Lessor, stating the opinion of such firm that all premiums in connection with the insurance then due have been paid and the insurance then carried and maintained with respect to on the Aircraft complies with the terms hereof and, in the case of renewal insurance, that such renewal insurance will on and after the effective date thereof so comply with the terms hereof; provided, however, provided that all information contained in such report shall be held -------- confidential by the foregoing report Lessor, and shall not be made available furnished or disclosed by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant it to anyone except (A) to permitted its legal counsel, insurance brokers or advisors, bona fide prospective transferees of Lessor's, the Loan Participants', Lessor and their respective agents (provided that -------- they shall agree for the Owner Participant's or benefit of the Indenture Trustee's interest who agree Lessee to hold all such information similarly confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationApplicable Law. The Lessee will cause instruct such Insurance Brokers firm to agree give prompt written advice to advise Lessor, the Indenture Trustee and the Owner Participant in writing Lessor of any default in the payment of any premium and of any other act or omission on the part of the Lessee of which it has knowledge and which might would in such firm's opinion invalidate or render unenforceable, in whole or in any material part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, The Lessee will also cause instruct such Insurance Brokers to agree firm to advise Lessor, the Indenture Trustee and the Owner Participant Lessor in writing at least thirty (30) 30 days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration termination or termination date of any cancellation of, or material adverse change in, such insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause 9 (or such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially lesser period as may be applicable in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereofwar risk coverage).
Appears in 1 contract
Reports, Etc. Lessee Sublessee will furnish, or cause to be furnished, to LessorSublessor, the Indenture Trustee Head Lessor and the Owner Participant, on or before the Delivery Commencement Date and on or before July 1 in each year thereafter during the Term commencing July, _____2006, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Sublessor and Head Lessor (the "“Insurance Brokers"”), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by LessorSublessor, the Indenture Trustee, the Loan Participants Head Lessor or the Owner Participant to anyone except (A) to prospective and permitted transferees of Sublessor’s, Head Lessor's’s, the Loan Participants', or the Owner Participant's or the Indenture Trustee's ’s interest who agree to hold such information confidential, (B) to Sublessor’s, Head Lessor's’s, the Loan Participants', or the Owner Participant's or the Indenture Trustee's ’s counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or confidential, (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationregulation or as may be requested by any regulatory agency or body having authority or (D) as may be necessary for purposes of protecting the interests of any such Person or for the enforcement of this Sublease by Sublessor or the Head Lease by Head Lessor. Lessee Sublessee will cause such Insurance Brokers to agree to advise Sublessor, Head Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee Sublessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee Sublessee will also cause such Insurance Brokers to agree to advise LessorSublessor, the Indenture Trustee Head Lessor and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee Sublessee will also cause such Insurance Brokers to deliver to LessorSublessor, the Indenture Trustee Head Lessor and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee Sublessee to such parties on the Delivery Commencement Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor Sublessor or the Indenture Trustee its designee may at its sole option provide such insurance and, in such event, Lessee Sublessee shall, upon demand, reimburse Lessor or the Indenture TrusteeSublessor, as Supplemental Rent, for the cost thereof to Lessor Sublessor or the Indenture Trusteesuch designee, as the case may be, without waiver of any other rights Lessor Sublessor or the Indenture Trustee such designee may have; provided, however, that no exercise by Lessor Sublessor or the Indenture Trustee, as the case may be, such designee of said option shall affect the provisions of this LeaseSublease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Reports, Etc. Lessee The Borrower will furnish, or cause furnish to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, Lender (A) on or before prior to the Delivery Date, insurance certificates describing in reasonable detail the insurance maintained by the Borrower as required pursuant to this Section 3.4, (B) prior to the cancellation, lapse or expiration of the insurance policies required pursuant to this Section 3.4, evidence of renewal of such insurance policies, and (C) on or prior to the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____renewal dates of the insurance policies carried by the Borrower pursuant to this Section 3.4, a report, report signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent a firm of aircraft insurance brokers brokers, not affiliated with the Borrower, appointed by the Borrower and reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect satisfactory to the Aircraft and Lender, stating the opinion of such firm that all premiums in connection with the insurance then due have been paid and the insurance then carried and maintained with respect to on the Aircraft complies with the terms hereof and, in the case of renewal insurance, that such renewal insurance will on and after the effective date thereof so comply with the terms hereof; provided, however, PROVIDED that all information contained in such report shall be held confidential by the foregoing report Lender, and shall not be made available furnished or disclosed by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant them to anyone except (A) to permitted their legal counsel, insurance brokers or advisors, bona fide prospective transferees of Lessor's, the Loan Participants', Lender and their respective agents (PROVIDED that they shall agree for the Owner Participant's or benefit of the Indenture Trustee's interest who agree Borrower to hold all such information similarly confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationApplicable Law. Lessee The Borrower will cause instruct such Insurance Brokers firm to agree give prompt written advice to advise Lessor, the Indenture Trustee and the Owner Participant in writing Lender of any default in the payment of any premium and of any other act or omission on the part of Lessee the Borrower of which it has knowledge and which might would in such firm's opinion invalidate or render unenforceable, in whole or in any material part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee The Borrower will also cause instruct such Insurance Brokers to agree firm to advise Lessor, the Indenture Trustee and the Owner Participant Lender in writing at least thirty (30) 30 days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration termination or termination date of any cancellation of, or material adverse change in, such insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause 3.4 (or such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially lesser period as may be applicable in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereofwar risk coverage).
Appears in 1 contract
Sources: Aircraft Security Agreement (Republic Airways Holdings Inc)
Reports, Etc. Lessee Owner will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantPass Through Trustee, on or before the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____annual anniversary date of Owner's applicable insurance, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. Owner's regular insurance broker or any other independent firm of insurance brokers reasonably acceptable to Lessor the Indenture Trustee which brokers may be in the regular employ of Owner (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached engines and parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants Trustee or the Owner Participant Pass Through Trustee to anyone except (Ai) to prospective and permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's or the Pass Through Trustee's interest or their respective counsel, independent certified public accountants and independent insurance brokers or other agents, who agree to hold such information confidential, (Bii) to Lessor's, the Loan Participants', the Owner ParticipantIndenture Trustee's or the Indenture Pass Through Trustee's counsel or independent certified public accountants or accountants, independent insurance advisors brokers or agents who agree to hold such information confidential or (Ciii) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation; provided, however that any disclosure permitted by clause (iii) above shall be made only to the extent necessary to meet the specific requirements or needs of the Persons to whom such disclosures are hereby permitted. Lessee Owner will cause such Insurance Brokers Broker to agree to advise Lessor, the Indenture Trustee and the Owner Participant Pass Through Trustee in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee Owner of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree Aircraft and to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage)) and ten (10) days notice with respect to the Electronic Date Recognition Exclusion Limited Coverage Endorsement, prior to the expiration cancellation or termination date material adverse change of any insurance carried and maintained on the Aircraft pursuant to this Section 117.04, provided that if the notice period specified above is not reasonably obtainable, the Insurance Broker shall provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, Lessee Owner will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantPass Through Trustee, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee Owner to such parties on the Delivery DateDate except for such changes in the report or the coverage consistent with the terms hereof. In the event that Lessee Owner or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option option, but shall be under no duty to, provide such insurance and, in such event, Lessee Owner shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Trustee for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Reports, Etc. Lessee will furnish, or cause furnish to be furnished, to the Lessor, the Owner Participant and the Indenture Trustee and the Owner Participant, (A) on or before prior to the Delivery Date, insurance certificates describing in reasonable detail the insurance maintained by Lessee as required pursuant to this Section 9, (B) prior to the cancellation, lapse or expiration of the insurance policies required pursuant to this Section 9, evidence of renewal of such insurance policies, and (C) on or prior to the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____renewal dates of the insurance policies carried by the Lessee pursuant to this Section 9, a report, report signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent a firm of aircraft insurance brokers brokers, not affiliated with the Lessee, appointed by the Lessee and reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect satisfactory to the Aircraft and Lessor, stating the opinion of such firm that all premiums in connection with the insurance then due have been paid and the insurance then carried and maintained with respect to on the Aircraft complies with the terms hereof and, in the case of renewal insurance, that such renewal insurance will on and after the effective date thereof so comply with the terms hereof; provided, however, provided that all information contained in the foregoing such report shall not be made available held confidential by Lessor, the Lessor and the Indenture Trustee, the Loan Participants and shall not be furnished or disclosed by them to anyone except bona fide prospective transferees of the Owner Participant to anyone except and their respective agents (A) to permitted transferees provided that they shall agree for the benefit of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree Lessee to hold all such information similarly confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationApplicable Law. The Lessee will cause instruct such Insurance Brokers firm to agree give prompt written advice to advise the Lessor, the Owner Participant and the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of the Lessee of which it has knowledge and which might would in such firm's opinion invalidate or render unenforceable, in whole or in any material part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, The Lessee will also cause instruct such Insurance Brokers to agree firm to advise the Lessor, the Owner Participant and the Indenture Trustee and the Owner Participant in writing at least thirty (30) 30 days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration termination or termination date of any cancellation of, or material adverse change in, such insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause 9 (or such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially lesser period as may be applicable in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereofwar risk coverage).
Appears in 1 contract
Reports, Etc. Lessee will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, on or before the Delivery Commencement Date and on or before July 1 in each year thereafter during the Term commencing July, _____200_ [July following closing date], a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor (the "“Insurance Brokers"”), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft Engine and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft Engine complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant Lessor to anyone except (A) to prospective and permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's ’s interest who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's ’s counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or confidential, (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationregulation or as may be requested by any regulatory agency or body having authority or (D) as may be necessary for purposes of protecting the interests of any such Person or for the enforcement of this Lease by Lessor. Lessee will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Lessor in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the AircraftEngine. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Lessor in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft Engine pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Commencement Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee its designee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture TrusteeLessor, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trusteesuch designee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee such designee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, such designee of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Reports, Etc. Lessee will furnish, or cause to Lessee's insurance underwriters shall be furnished, to Lessor, the Indenture Trustee and the Owner Participant, on or before the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be -------------- required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Lessor in writing promptly of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To Not less than two (2) Business Days prior to the extent such agreement is reasonably obtainableDelivery Date, and thereafter on or prior to each renewal or replacement by Lessee of the insurance required hereby, Lessee will also furnish to Lessor one or more original certificates each executed and delivered by an insurance underwriters appointed by Lessee and approved by Lessor (which approval shall not be unreasonably withheld) and other proper evidence of endorsement of Lessor on the insurance policies required to be maintained under this Section 16, which together shall describe in reasonable ---------- detail insurance carried on the Aircraft and shall certify that the insurance then maintained on the Aircraft complies with the terms of this Lease. Lessee will cause each such Insurance Brokers approved insurance underwriters to agree to advise Lessor, the Indenture Trustee and the Owner Participant Lessor in writing at least thirty (30) days (seven (7) days or such lesser period as may from time to time be applicable in the case of any war risk and allied perils coverage), ) prior to the non-renewal, termination or cancellation by the underwriters for any reason (including, without limitation, failure to pay the premium therefor) of any such insurance or as soon as possible in respect of "non-renewal" or automatic termination for war risk. Not less than five (5) Business Days before the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In additionrequired hereunder, Lessee will also cause such Insurance Brokers to deliver to Lessor, provide Lessor with telexed or telecopied confirmation from Lessee's insurance brokers certifying that renewal certificates of insurance evidencing the Indenture Trustee and the Owner Participant, on renewal or prior to the date replacement of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof pursuant to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this LeaseSection 16 will be issued on the ---------- termination date of the prior certificate of insurance coverage. Within seven (7) days after such renewal, including the provisions Lessee will furnish to Lessor a certificate of Section 14(g) hereofsuch insurance coverage from such insurance broker.
Appears in 1 contract
Reports, Etc. Lessee will furnish, or cause furnish to be furnished, to Lessor, the Indenture Trustee Lessor and the Owner Participant, Participant (A) on or before prior to the Delivery Date, insurance certificates describing in reasonable detail the insurance maintained by Lessee as required pursuant to this Section 9, (B) prior to the cancellation, lapse or expiration of the insurance policies required pursuant to this Section 9, evidence of renewal of such insurance policies, and (C) on or prior to the Delivery Date and on or before July 1 in each year thereafter during the Term commencing July, _____renewal dates of the insurance policies carried by the Lessee pursuant to this Section 9 (but no less frequently than annually), a report, report signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent a firm of aircraft insurance brokers brokers, not affiliated with the Lessee, appointed by the Lessee and reasonably acceptable to Lessor (the "Insurance Brokers"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect satisfactory to the Aircraft and Lessor, stating the opinion of such firm that (i) all premiums in connection with the insurance then due have been paid and (ii) the insurance then carried and maintained with respect to on the Aircraft complies with the terms hereof; providedhereof and is in full force and effect and, howeverin the case of renewal insurance, that such renewal insurance will on and after the effective date thereof so comply with the terms hereof, provided that all -------- information contained in such report shall be held confidential by the foregoing report Lessor and the Owner Participant, and shall not be made available furnished or disclosed by Lessorthem to anyone except their legal counsel, the Indenture Trusteeinsurance brokers or advisors, the Loan Participants or bona fide prospective transferees of the Owner Participant to anyone except and their respective agents (A) to permitted transferees provided that they shall agree for the benefit of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree Lessee to hold all such -------- information similarly confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationApplicable Law. The Lessee will cause instruct such Insurance Brokers firm to agree give prompt written advice to advise Lessor, the Indenture Trustee Lessor and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of the Lessee of which it has knowledge and which might would in such firm's opinion invalidate or render unenforceable, in whole or in any material part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, The Lessee will also cause instruct such Insurance Brokers to agree firm to advise Lessor, the Indenture Trustee Lessor and the Owner Participant in writing at least thirty (30) 30 days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration termination or termination date of any cancellation of, or material adverse change in, such insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause 9 (or such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially lesser period as may be applicable in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereofwar risk coverage).
Appears in 1 contract
Reports, Etc. Lessee Sublessee will furnishcause its insurance broker to furnish Sublessor, or cause to be furnished, to Lessor, the Indenture Trustee Lender and the Owner Participant, each Additional Insured or Loss Payee (i) on or before the Delivery Date of the Aircraft, (ii) on the policy anniversary date thereafter, and (iii) on the date a Replacement Engine or before July 1 in each year thereafter during the Term commencing July, _____Replacement Propeller is conveyed to Lessor pursuant to SECTION 12.4, a report, dated the day of its delivery, signed by Aon Risk ServicesSublessee's insurance broker, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Sublessor, Lessor (the "Insurance Brokers")and Lender, describing in reasonable detail the insurance and reinsurance then carried and maintained on the Aircraft, certifying that such insurance complies with respect to the Aircraft terms hereof and that the terms of this SECTION 13 have been endorsed on such policies, and stating the opinion of such firm broker that such insurance is in an amount deemed adequate, based upon normal industry practice, for the insurance then carried protection of the respective interests of Sublessor, Lessor, Lender and maintained with respect to the Aircraft complies each Additional insured or Loss. Payee and each Covered Person, and is usual for corporations operating similar aircraft and similarly situated with the terms hereof; providedSublessee, howeverPROVIDED, that all information contained in the foregoing report HOWEVER, such opinion shall not be made available by deemed to be a guarantee or other undertaking that such limits will be adequate under all circumstances. Sublessee will advise and will cause its insurance broker to advise Sublessor, Lessor, the Indenture Trustee, the Loan Participants Lender and each Additional Insured or the Owner Participant to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Loss Payee in writing promptly 'of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and Sublessee which might invalidate or render reader unenforceable, in whole or in part, any insurance on the Aircraft. To Sublessee shall cause its insurance broker to furnish to Sublessor, Lessor and each Additional insured or Loss Payee on the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least Delivery Date or as soon as available thereafter but not later than thirty (30) days (seven (7) days in after the case of war risk and allied perils coverage)Delivery Date, prior to the expiration or termination date copies of any insurance certificates required to be carried hereunder, and maintained on within fifteen (15) days of replacement thereof, copies of such replacement insurance certificates, or with respect to any Replacement Engine or Replacement Propeller, within fifteen (15) days of replacement thereof, certificates evidencing the Aircraft pursuant insurance required to this Section 11be carried hereunder. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any If Sublessee shall fail fails to maintain or cause to be maintained insurance as herein providedprovided herein, Sublessor, Lessor or the Indenture Trustee may any Additional insured or Loss payee may, at its sole option option, provide such insurance and, and in such event, Lessee Sublessee shall, upon demand, reimburse Sublessor, Lessor or such Additional Insured or Loss Payee, as the Indenture Trusteecase may be, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereofthereof.
Appears in 1 contract
Sources: Aircraft Sublease Agreement (Republic Airways Holdings Inc)
Reports, Etc. Lessee Grantor will furnish, or cause furnish to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, Agent (A) on or before prior to the Delivery Date and on date of execution of the Security Agreement Supplement that includes hereunder the Airframe or before July 1 in each year thereafter during the Term commencing JulyEngine to which such insurance relates, _____, a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor (the "Insurance Brokers"), certificates describing in reasonable detail the insurance and reinsurance then carried and maintained with respect by Grantor as required pursuant to this Section 3.3(k), (B) prior to the Aircraft cancellation, lapse or expiration of the insurance policies required pursuant to this Section 3.3(k), evidence of renewal of such insurance policies, and (C) on or prior to the date of execution of the Security Agreement Supplement that includes hereunder the Airframe or Engine to which such insurance relates and on or before the renewal dates of the insurance policies carried by Grantor pursuant to this Section 3.3(k), a report signed by a firm of aircraft insurance brokers, not affiliated with Grantor, appointed by Grantor and reasonably satisfactory to Agent, stating the opinion of such firm that all premiums in connection with the insurance then due have been paid and the insurance then carried and maintained with respect to the on each Aircraft complies with the terms hereof; providedhereof and, howeverin the case of renewal insurance, that all information contained such renewal insurance will on and after the effective date thereof so comply with the terms hereof. Grantor will instruct such firm to give prompt written advice to Agent (1) of such firm’s receipt of any notice of cancellation of the insurance policies, or notice of a change in the foregoing report shall not be made available by Lessorinsurance policies which would, in such firm’s judgment, adversely change the Indenture Trustee, statements set forth in the Loan Participants or the Owner Participant to anyone except insurance certificates described in clause (A) to permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's interest who agree to hold such information confidentialthis Section 3.3(k)(v), (B2) if any premiums are not paid to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) firm by Grantor as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee agreed between Grantor and the Owner Participant in writing of any default in applicable insurer(s), after giving effect to the procedures and/or terms that exist between such insurer(s) and such firm from time to time regarding the payment of any premiums, (3) upon application by Agent, of the premium payment situation, (4) if such firm ceases to be the insurance broker to Grantor, (5) within fourteen (14) days following such firm’s receipt of a written request from Agent not later than one month before expiration of the insurance policies, if such firm has not received renewal instructions from Grantor, and (6) of any other act or omission on the part of Lessee Grantor of which it has knowledge and which might would in such firm’s opinion invalidate or render unenforceable, in whole or in any material part, any insurance on the any Aircraft. To the extent such agreement is reasonably obtainable, Lessee Grantor will also cause instruct such Insurance Brokers to agree firm to advise Lessor, the Indenture Trustee and the Owner Participant Agent in writing at least thirty 30 days prior to the termination or cancellation of, or material adverse change in, such insurance carried and maintained on each Aircraft pursuant to this Section 3.3(k) (30) days (seven (7) days or such lesser period as may be applicable in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner Participant, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or the Indenture Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Sources: Aircraft and Engine Security Agreement (Erickson Air-Crane Inc.)
Reports, Etc. Lessee Owner will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner Participant, on or before the Delivery Date Closing Date, and on or before July 1 in each year thereafter during annual renewal of the Term commencing July, _____applicable insurances, a report, signed by Aon Risk Services, Inc., Aon AON Risk Services of MinnesotaIllinois, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor the Indenture Trustee which brokers may be in the regular employ of Owner (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached engines and parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the such insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, provided that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant Trustee to anyone except (A) to any Noteholder's or to prospective and permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's or any Noteholder's interest or its respective counsel, independent certified public accountants, independent insurance brokers or other agents, who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or accountants, independent insurance advisors brokers or other agents who agree to hold such information confidential or confidential, (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation, or (D) as may be necessary for purposes of protecting the interest of any such Person or for enforcement of this Agreement by the Indenture Trustee; provided, further, that any and all disclosures permitted by clauses (C) or (D) above shall be made only to the extent necessary to meet the specific requirements or needs of the Persons to whom such disclosures are hereby permitted. Lessee Owner 39 [Trust Indenture and Mortgage (2000-2 747-1)] will cause such Insurance Brokers Broker to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee Owner of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree Aircraft and to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) 30 days (seven (7) 7 days in the case of war risk and allied perils coverage), ) prior to the expiration cancellation or termination date material adverse change of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor4.03; provided that if the notice period specified above is not reasonably obtainable, the Indenture Trustee and the Owner Participant, on or Insurance Broker shall provide for as long a period of prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form notice as delivered by Lessee to such parties on the Delivery Dateshall then be reasonably obtainable. In the event that Lessee Owner or any Sublessee Permitted Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may or Pass Through Trustee may, at its sole option option, but shall be under no duty to, provide such insurance and, in such event, Lessee Owner shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Trustee or Pass Through Trustee for the cost thereof to Lessor or the Indenture Trustee or Pass Through Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee or Pass Through Trustee, as the case may be, of said option shall affect the provisions of this LeaseAgreement, including the provisions that failure by Owner to maintain the prescribed insurance shall constitute an Event of Section 14(g) hereofDefault.
Appears in 1 contract
Sources: Trust Indenture and Mortgage (United Air Lines Inc)
Reports, Etc. Lessee Owner will furnish, or cause to be furnished, to Lessor, ------------ the Indenture Trustee and the Owner Participant, on or before the Delivery Date Closing Date, and on or before July 1 in each year thereafter during annual renewal of the Term commencing July, _____applicable insurances, a report, signed by Aon Risk Services, Inc., Aon AON Risk Services of MinnesotaIllinois, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor the Indenture Trustee which brokers may be in the regular employ of Owner (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached engines and parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the such insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, provided that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant Trustee to anyone except (A) to any Noteholder's or to prospective and permitted transferees of Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's or any Noteholder's interest or its respective counsel, independent certified public accountants, independent insurance brokers or other agents, who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or accountants, independent insurance advisors brokers or other agents who agree to hold such information confidential or confidential, (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation, or (D) as may be necessary for purposes of protecting the interest of any such Person or for enforcement of this Agreement by the Indenture Trustee; provided, further, that any and all disclosures permitted by clauses (C) or (D) above shall be made only to the extent necessary to meet the specific requirements or needs of the Persons to whom such disclosures are hereby permitted. Lessee Owner will cause such Insurance Brokers Broker to agree to advise Lessor, the Indenture Trustee and the Owner Participant in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee Owner of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree Aircraft and to advise Lessor, the Indenture Trustee and the Owner Participant in writing at least thirty (30) 30 days (seven (7) 7 days in the case of war risk and allied perils coverage), ) prior to the expiration cancellation or termination date material adverse change of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor4.03; provided that if the notice period specified above is not reasonably obtainable, the Indenture Trustee and the Owner Participant, on or Insurance Broker shall provide for as long a period of prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form notice as delivered by Lessee to such parties on the Delivery Dateshall then be reasonably obtainable. In the event that Lessee Owner or any Sublessee Permitted Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee may or Pass Through Trustee may, at its sole option option, but shall be under no duty to, provide such insurance and, in such event, Lessee Owner shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Trustee or Pass Through Trustee for the cost thereof to Lessor or the Indenture Trustee or Pass Through Trustee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee or Pass Through Trustee, as the case may be, of said option shall affect the provisions of this LeaseAgreement, including the provisions that failure by Owner to maintain the prescribed insurance shall constitute an Event of Section 14(g) hereof.Default. [Trust Indenture and Mortgage (2001-1 747-1)]
Appears in 1 contract
Sources: Trust Indenture and Mortgage (United Air Lines Inc)
Reports, Etc. Lessee Sublessee will furnish, or cause to be furnished, to Sublessor, Head Lessor, the Indenture Trustee and the Owner Participant, on or before the Delivery Commencement Date and on or before July 1 in each year thereafter during the Term commencing July, _____200 [July following closing date], a report, signed by Aon Risk Services, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Sublessor and Head Lessor (the "“Insurance Brokers"”), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Sublessor, Head Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant to anyone except (A) to prospective and permitted transferees of Sublessor’s, Head Lessor's’s, the Loan Participants', ’ or the Owner Participant's ’s or the Indenture Trustee's ’s interest who agree to hold such information confidential, (B) to Sublessor’s, Head Lessor's’s, the Loan Participants', ’ or the Owner Participant's ’s or the Indenture Trustee's ’s counsel or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or confidential, (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationregulation or as may be requested by any regulatory agency or body having authority or (D) as may be necessary for purposes of protecting the interests of any such Person or for the enforcement of this Sublease by Sublessor or the Head Lease by Head Lessor. Lessee Sublessee will cause such Insurance Brokers to agree to advise Sublessor, Head Lessor, the Indenture Trustee and the Owner Participant and the Loan Participants in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee Sublessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee Sublessee will also cause such Insurance Brokers to agree to advise Sublessor, the Head Lessor, the Indenture Trustee and the Owner Participant and the Loan Participants in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 11. In addition, Lessee Sublessee will also cause such Insurance Brokers to deliver to Sublessor, Head Lessor, the Indenture Trustee and the Owner ParticipantParticipant and the Loan Participants, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee Sublessee to such parties on the Delivery Commencement Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor Sublessor or the Indenture Trustee its designee may at its sole option provide such insurance and, in such event, Lessee Sublessee shall, upon demand, reimburse Lessor or the Indenture TrusteeSublessor, as Supplemental Rent, for the cost thereof to Lessor Sublessor or the Indenture Trusteesuch designee, as the case may be, without waiver of any other rights Lessor Sublessor or the Indenture Trustee such designee may have; provided, however, that no exercise by Lessor Sublessor or the Indenture Trustee, as the case may be, such designee of said option shall affect the provisions of this LeaseSublease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Reports, Etc. Lessee will furnish, or cause to be furnished, to Lessor, the Indenture Trustee Mortgagee and the Owner Participant, on or before the Delivery Closing Date and on or before July 1 in each year thereafter annual anniversary of the Closing Date during the Term commencing July, _____, a report, signed by Aon Risk ServicesRollins, Burdick, Hunter of Illinois, Inc., Aon Risk Services of Minnesota, Inc. or any other independent firm of insurance brokers reasonably acceptable to Lessor Lessor, which brokers may act as Lessee's insurance brokers on a regular basis (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached engines and parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the (a) such insurance then carried and maintained with respect to the Aircraft complies with the terms hereofhereof and (b) that such insurance together with any self-insurance permitted hereby provides coverage that are in substantially similar forms, are of such types, insure against such risks, and have limits within the range of limits as are customarily carried by U.S. carriers; provided, however, that the opinion set forth in clause (b) shall not be required if the Insurance Broker then generally does not provide such an opinion or will provide such an opinion only for material additional cost; provided, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture TrusteeMortgagee, the Loan Participants or the Owner Participant or the Certificate Holders to anyone except (A) to prospective and permitted transferees of Lessor's, the Loan Participants'Mortgagee's, the Owner Participant's or the Indenture Trusteea Certificate Holder's interest or their respective counsel, independent certified public accountants, independent insurance brokers or other agents, who agree to hold such information confidential, (B) to Lessor's, the Loan Participants'Mortgagee's, the Owner Participant's or the Indenture Trusteea Certificate Holder's counsel or independent certified public accountants or accountants, independent insurance advisors brokers or other agents who agree to hold such information confidential or confidential, (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulationregulation or (D) as may be necessary for purposes of protecting the interests of any such Person or for enforcement of this Lease by Lessor or the Mortgagee; provided, however, that any and all disclosures permitted by clauses (C) and (D) above shall be made only to the extent necessary to meet the specific requirements or needs of the Persons to whom such disclosures are hereby permitted. Lessee will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and Mortgagee, the Owner Participant and the Certificate Holders in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also cause such Insurance Brokers to agree Aircraft and to advise Lessor, the Indenture Trustee and the Owner Participant such persons in writing at least thirty (30) 30 days (seven (7) 10 days in the case of lapse for non-payment of premium and 7 days in the case of war risk and allied perils coverage), ) prior to the expiration cancellation (but not scheduled expiration), lapse or termination date material adverse change of any insurance carried and maintained on the Aircraft pursuant to this Section 11, provided that if the notice period specified above is not reasonably obtainable, the Insurance Brokers shall provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee Mortgagee, the Owner Participant and the Owner ParticipantCertificate Holders, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery DateClosing Date except for changes in the report or the coverage consistent with the terms hereof. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor Lessor, Owner Participant or the Indenture Trustee Mortgagee may at its sole option option, but shall be under no duty to, provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor Lessor, Owner Participant or the Indenture TrusteeMortgagee, as Supplemental Rent, for the cost thereof to Lessor Lessor, Owner Participant or the Indenture TrusteeMortgagee, as the case may be, without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor Lessor, Owner Participant or the Indenture TrusteeMortgagee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions that failure by Lessee to maintain the prescribed insurance shall constitute an Event of Section 14(g) hereofDefault.
Appears in 1 contract
Reports, Etc. Lessee The Company will furnish, or cause to be furnished, to Lessor, the Indenture Trustee and the Owner ParticipantCollateral Agent, on or before the Delivery Temporary Amendment Effective Date and on or before July 1 1, in each year thereafter during the Term commencing JulyJuly 1, _____, 1999 a report, signed by Aon Risk Services, Inc., Aon Risk Services Inc. of Minnesota, Inc. ▇▇▇▇▇ & ▇▇▇▇▇▇▇▇, Incorporated or any other independent firm of insurance brokers reasonably acceptable to Lessor the Collateral Agent (the "Insurance BrokersINSURANCE BROKERS"), describing in reasonable detail the insurance and reinsurance then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; providedPROVIDED, howeverHOWEVER, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants or the Owner Participant Secured Creditors to anyone except (A) to permitted transferees of Lessor's, the Loan Participants', interest of the Owner Participant's or the Indenture Trustee's interest Secured Creditors who agree to hold such information confidential, (B) to Lessor's, the Loan Participants', the Owner Participant's or the Indenture Trustee's counsel Secured Creditors' counsels or independent certified public accountants or independent insurance advisors who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee The Company will cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Collateral Agent in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee the Company of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee the Company will also cause such Insurance Brokers to agree to advise Lessor, the Indenture Trustee and the Owner Participant Collateral Agent in writing at least thirty (30) days (seven (7) days in the case of war risk and allied perils coverage), ) prior to the expiration or termination date of any insurance carried and maintained on the Aircraft pursuant to this Section 113.6. In addition, Lessee the Company will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee and the Owner ParticipantCollateral Agent, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee the Company to such parties the Collateral Agent on the Delivery Temporary Amendment Effective Date. In the event that Lessee the Company or any Sublessee Lessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor or the Indenture Trustee Collateral Agent may at its sole option provide such insurance and, in such event, Lessee the Company shall, upon demand, reimburse Lessor or the Indenture Trustee, as Supplemental Rent, Collateral Agent for the cost thereof to Lessor or the Indenture Trustee, as the case may beCollateral Agent, without waiver of any other rights Lessor or the Indenture Trustee Collateral Agent may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract
Sources: Aircraft Mortgage and Security Agreement (Northwest Airlines Corp)
Reports, Etc. Lessee will furnish, or cause to be furnished, ------------ to Lessor, the Indenture Trustee and Trustee, the Owner ParticipantParticipant and, on and after the Refinancing Date only, so long as the Pass Through Trustees are Certificate Holders, the Pass Through Trustees, on or before the Delivery Effective Date and on or before July April 1 in each year thereafter during the Term commencing July, _____Term, a report, signed by Aon Risk Services, Inc., Aon Risk Services Inc. of Minnesota, Inc. Illinois or any other independent firm of insurance brokers reasonably acceptable to Lessor and Owner Participant which brokers may be in the regular employ of Lessee (the "Insurance Brokers"), describing in reasonable detail the hull and liability insurance (and reinsurance property insurance for detached engines and parts) then carried and maintained with respect to the Aircraft and stating the opinion of such firm that the such insurance then carried and maintained with respect to the Aircraft complies with the terms hereof; provided, however, that all information contained in the foregoing report shall not be made available by Lessor, the Indenture Trustee, the Loan Participants Pass Through Trustees (on and after the Refinancing Date only), or the Owner Participant to anyone except (A) to prospective and permitted transferees of Lessor's, the Loan Participants'Indenture Trustee's, the Pass Through Trustees' (on and after the Refinancing Date only), or the Owner Participant's or the Indenture Trustee's interest interest, who agree to hold such information confidential, (B) to Lessor's, the Loan Participants'Indenture Trustee's, the Pass Through Trustees' (on and after the Refinancing Date only), or the Owner Participant's or the Indenture Trustee's counsel or independent certified public accountants or accountants, independent insurance advisors or other agents who agree to hold such information confidential or (C) as may be required by any statute, court or administrative order or decree or governmental ruling or regulation. Lessee will cause such Insurance Brokers to agree to advise Lessor, the Owner Participant, the Indenture Trustee and, on and after the Owner Participant Refinancing Date only, so long as the Pass Through Trustees are Certificate Holders, the Pass Through [First Amended and Restated Lease Agreement (1989 I)] Trustees in writing of any default in the payment of any premium and of any other act or omission on the part of Lessee of which it has knowledge and which might invalidate or render unenforceable, in whole or in part, any insurance on the Aircraft. To the extent such agreement is reasonably obtainable, Lessee will also Aircraft or cause such Insurance Brokers insurance to agree lapse and to advise Lessor, the Indenture Trustee and the Owner Participant such persons in writing at least thirty (30) 30 days (seven (7) 7 days in the case of war risk and allied perils coverage), ) prior to the expiration cancellation, lapse (to the extent such advice is reasonably available) or termination date material change of any insurance carried and maintained on the Aircraft pursuant to this Section 11, provided that if the notice period specified above is not reasonably obtainable, the Insurance Brokers shall provide for as long a period of prior notice as shall then be reasonably obtainable. In addition, Lessee will also cause such Insurance Brokers to deliver to Lessor, the Indenture Trustee Owner Participant, Pass Through Trustees (on and after the Refinancing Date only), so long as the Pass Through Trustees are Certificate Holders, and the Owner ParticipantIndenture Trustee, on or prior to the date of expiration of any insurance policy referenced in a previously delivered certificate of insurance, a new certificate of insurance, substantially in the same form as delivered by Lessee to such parties on the Delivery Effective Date. In the event that Lessee or any Sublessee shall fail to maintain or cause to be maintained insurance as herein provided, Lessor Lessor, the Pass Through Trustees (on and after the Refinancing Date only), so long as the Pass Through Trustees are Certificate Holders, or the Indenture Trustee may at its sole option provide such insurance and, in such event, Lessee shall, upon demand, reimburse Lessor Lessor, the Pass Through Trustees (on and after the Refinancing Date only), so long as the Pass Through Trustees are Certificate Holders, or the Indenture Trustee, as Supplemental Rent, for the cost thereof to Lessor or Lessor, the Indenture Trustee or, on and after the Refinancing Date only, such Pass Through Trustee, as the case may be, together with interest on such cost at the Past Due Rate from the date of payment by Lessor to the date of reimbursement without waiver of any other rights Lessor or the Indenture Trustee may have; provided, however, that no exercise by Lessor or the Indenture Trustee, as the case may be, of said option shall affect the provisions of this Lease, including the provisions of Section 14(g) hereof.
Appears in 1 contract